Now, we can use our TouchNGo card at these participating retailers. Although it was a little late, TouchNGo has finally transcend into consumer retails. TouchNGo is Malaysia first and only pre-paid cash card and recently chosen as the Best Brand based on its breakthrough from transportation and toll to areas of lifestyle services i.e retail and parking. Well...
What is the difference between credit card, prepaid debit card and prepaid cash card?
1. Credit Card - "Using Future Money"
You are simply borrowing money from the card issuer (bank). You can continue to swipe your card until you max your credit limit. The card issuer charges interest if you do not pay the full debt within the time frame. You are ok if you use it simply because of convenience and settle your debt every month. Eg: VISA and MASTER.
2. Prepaid debit card - "Using Current Money"
The money in the prepaid debit card is your hard-earned money. It requires our money to exist in the bank account. We are still using our own money, but paying with a card instead of money, a move towards a cashless society. It is a good way when you don't like the idea of bringing cash.
3. Prepaid cash card - "Cashless Cash"
The differences of a prepaid cash cash from a prepaid debit card is that you need to load a certain amount of money into the card. The card is operated by a private entity; access and usage is domestic and within that particular country. Prepaid debit card is linked to your bank account and is accepted worldwide depends on the issuer/issuee.